7Baggers

Lemonade, Inc
(NYSE:LMND) 

LMND stock logo

Lemonade, Inc. provides various insurance products in the United States and Europe. Its insurance products cover stolen or damaged property, and personal liability that protects its customers if they are responsible for an accident or damage to another person or their property. The company also offe...

Founded: 2015
Full Time Employees: 1,367 (Dec 2022)
CEO / Co-Founder: Daniel Asher Schreiber 
Sector: Financial Services
Industry: Insurance-Property & Casualty
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At a glance:
Bull Thesis:
Bear Thesis:
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Moat:
Income Statements:
Quarterly
Annual
    Unit: USD2026-03-31 2025-12-31 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31 2020-09-30 2020-06-30 
                            
      revenue
    		                        
      net earned premium
    		212,600,000 179,500,000 140,000,000 112,500,000 104,300,000 101,200,000 95,700,000 89,300,000 84,400,000 83,900,000 86,600,000 76,500,000 68,200,000 63,200,000 50,600,000 31,200,000 27,400,000 25,400,000 21,500,000 16,300,000 13,800,000 12,300,000 10,500,000 29,200,000 
      ceding commission income
    		23,600,000 33,200,000 32,200,000 30,400,000 26,900,000 29,600,000 24,000,000 16,500,000 21,000,000 18,400,000 16,700,000 17,500,000 17,200,000 17,700,000 16,900,000 15,500,000 14,000,000 13,000,000 12,300,000 10,600,000 9,000,000 7,900,000 7,000,000 400,000 
      net investment income
    		9,800,000 9,200,000 9,700,000 9,400,000 9,500,000 9,400,000 8,900,000 8,100,000 7,600,000 7,100,000 7,000,000 5,600,000 5,000,000 3,700,000 2,600,000 1,200,000 900,000 900,000 600,000 200,000 200,000 200,000 200,000 200,000 
      commission and other income
    		12,000,000 6,200,000 12,600,000 11,800,000 10,500,000 8,600,000 8,000,000 8,100,000 6,100,000 6,100,000 4,200,000 5,000,000 4,800,000 3,800,000 3,900,000 2,100,000 2,000,000 1,700,000 1,300,000 1,100,000 500,000 100,000 100,000  
      total revenue
    		258,000,000 228,100,000 194,500,000 164,100,000 151,200,000 148,800,000 136,600,000 122,000,000 119,100,000 115,500,000 114,500,000 104,600,000 95,200,000 88,400,000 74,000,000 50,000,000 44,300,000 41,000,000 35,700,000 28,200,000 23,500,000 20,500,000 17,800,000 29,900,000 
      yoy
    		70.63% 53.29% 42.39% 34.51% 26.95% 28.83% 19.30% 16.63% 25.11% 30.66% 54.73% 109.20% 114.90% 115.61% 107.28% 77.30% 88.51% 100.00% 100.56% -5.69%     
      qoq
    		13.11% 17.28% 18.53% 8.53% 1.61% 8.93% 11.97% 2.43% 3.12% 0.87% 9.46% 9.87% 7.69% 19.46% 48.00% 12.87% 8.05% 14.85% 26.60% 20.00% 14.63% 15.17% -40.47%  
      expense
    		                        
      loss and loss adjustment expense
    		133,300,000 94,500,000 89,600,000 77,500,000 85,400,000 62,700,000 77,900,000 70,500,000 65,900,000 65,000,000 75,900,000 75,900,000 63,600,000 61,500,000 53,300,000 28,100,000 24,400,000 24,900,000 17,500,000 13,000,000 16,500,000 9,300,000 6,700,000 20,500,000 
      other insurance expense
    		24,100,000 22,100,000 24,100,000 21,400,000 26,100,000 20,900,000 19,800,000 18,800,000 17,300,000 15,500,000 15,100,000 15,000,000 13,600,000 13,100,000 12,100,000 9,700,000 9,100,000 7,800,000 6,300,000 5,200,000 4,800,000 3,600,000 3,500,000 4,000,000 
      sales and marketing
    		66,100,000 64,200,000 57,400,000 59,600,000 43,200,000 47,700,000 51,400,000 36,800,000 30,400,000 24,500,000 24,400,000 24,800,000 28,200,000 27,200,000 35,800,000 37,000,000 38,300,000 37,200,000 42,200,000 33,100,000 29,100,000 22,900,000 22,200,000 16,100,000 
      technology development
    		26,900,000 24,800,000 24,700,000 22,400,000 22,000,000 21,800,000 21,900,000 21,200,000 20,900,000 21,100,000 21,800,000 24,100,000 21,800,000 23,500,000 21,400,000 17,800,000 16,900,000 16,400,000 14,300,000 14,000,000 7,100,000 6,400,000 5,300,000 4,200,000 
      general and administrative
    		42,200,000 43,100,000 35,000,000 25,800,000 35,900,000 33,500,000 31,400,000 29,800,000 29,800,000 29,000,000 36,900,000 30,700,000 32,700,000 31,200,000 40,500,000 22,400,000 28,200,000 23,100,000 19,600,000 15,800,000 14,100,000 11,700,000 10,600,000 5,800,000 
      total expense
    		292,600,000 248,700,000 230,800,000 206,700,000 212,600,000 186,600,000 202,400,000 177,100,000 164,300,000 155,100,000 174,100,000 170,500,000 159,900,000 156,500,000 163,100,000 115,000,000 116,900,000 109,400,000 99,900,000 81,100,000 71,600,000 53,900,000 48,300,000 50,600,000 
      income before income taxes
    		-34,600,000 -20,600,000 -36,300,000 -42,600,000 -61,400,000 -37,800,000 -65,800,000 -55,100,000 -45,200,000 -39,600,000 -59,600,000 -65,900,000 -64,700,000 -68,100,000 -89,100,000 -65,000,000 -72,600,000 -68,400,000 -64,200,000 -52,900,000 -48,100,000 -33,400,000 -30,500,000 -20,700,000 
      yoy
    		-43.65% -45.50% -44.83% -22.69% 35.84% -4.55% 10.40% -16.39% -30.14% -41.85% -33.11% 1.38% -10.88% -0.44% 38.79% 22.87% 50.94% 104.79% 110.49% 155.56%     
      qoq
    		67.96% -43.25% -14.79% -30.62% 62.43% -42.55% 19.42% 21.90% 14.14% -33.56% -9.56% 1.85% -4.99% -23.57% 37.08% -10.47% 6.14% 6.54% 21.36% 9.98% 44.01% 9.51% 47.34%  
      operating margin %
    		-13.41% -9.03% -18.66% -25.96% -40.61% -25.40% -48.17% -45.16% -37.95% -34.29% -52.05% -63.00% -67.96% -77.04% -120.41% -130.00% -163.88% -166.83% -179.83% -187.59% -204.68% -162.93% -171.35% -69.23% 
      income tax expense
    		1,200,000 1,100,000 1,200,000 1,300,000 1,000,000 -7,800,000 1,900,000 2,100,000 2,100,000 2,800,000 1,900,000 1,300,000 1,100,000 -4,400,000 2,300,000 2,900,000 2,200,000 1,900,000 2,200,000 2,700,000 900,000 500,000 400,000 300,000 
      net income
    		-35,800,000 -21,700,000 -37,500,000 -43,900,000 -62,400,000 -30,000,000 -67,700,000 -57,200,000 -47,300,000 -42,400,000 -61,500,000 -67,200,000 -65,800,000 -63,700,000 -91,400,000 -67,900,000 -74,800,000 -70,300,000 -66,400,000 -55,600,000 -49,000,000 -33,900,000 -30,900,000 -21,000,000 
      yoy
    		-42.63% -27.67% -44.61% -23.25% 31.92% -29.25% 10.08% -14.88% -28.12% -33.44% -32.71% -1.03% -12.03% -9.39% 37.65% 22.12% 52.65% 107.37% 114.89% 164.76%     
      qoq
    		64.98% -42.13% -14.58% -29.65% 108.00% -55.69% 18.36% 20.93% 11.56% -31.06% -8.48% 2.13% 3.30% -30.31% 34.61% -9.22% 6.40% 5.87% 19.42% 13.47% 44.54% 9.71% 47.14%  
      net income margin %
    		-13.88% -9.51% -19.28% -26.75% -41.27% -20.16% -49.56% -46.89% -39.71% -36.71% -53.71% -64.24% -69.12% -72.06% -123.51% -135.80% -168.85% -171.46% -185.99% -197.16% -208.51% -165.37% -173.60% -70.23% 
      other comprehensive loss, net of tax
    		                        
      unrealized gain on investments in fixed maturities
    		-4,400,000 200,000 600,000 400,000 1,200,000 -1,800,000 5,400,000 1,300,000  8,500,000 2,900,000 1,200,000 6,000,000    -14,300,000        
      foreign currency translation adjustment
    		-1,300,000 1,000,000 400,000 7,200,000 1,500,000 -4,200,000 3,100,000 -700,000 -900,000 -400,000 -1,000,000 100,000 -700,000 2,300,000 -1,500,000 -5,500,000 -1,100,000 1,000,000  300,000 700,000    
      comprehensive loss
    		-41,500,000 -20,500,000 -36,500,000 -36,300,000 -59,700,000 -36,000,000 -59,200,000 -56,600,000 -47,500,000 -32,300,000 -59,600,000 -65,900,000 -60,500,000 -56,000,000 -97,900,000 -77,900,000 -90,200,000 -73,800,000 -67,200,000 -55,500,000 -48,200,000 -32,800,000 -30,500,000 -20,800,000 
      per share data:
    		                        
      net income per share
    		-0.47 -0.28 -0.51 -0.6 -0.86 -0.41 -0.95 -0.81 -0.67 -0.6 -0.88 -0.97 -0.95 -0.9 -1.37 -1.1 -1.21 -1.14 -1.08 -0.9 -0.81 -0.22 -0.57 -1.77 
      weighted-average common shares outstanding - basic and diluted
    		76,307,698                        
      weighted-average common shares outstanding—basic and diluted
    		  74,194,138 73,433,379 72,921,318  71,138,070 70,721,227 70,284,486  69,753,576 69,534,731 69,334,103  66,877,100 61,816,225 61,698,568  61,580,145 61,444,958 60,218,652  53,997,315 11,891,979 
      unrealized gain loss on investments in fixed maturities
    		        700,000                
      unrealized loss on investments in fixed maturities
    		             -5,950,000 -5,000,000 -4,500,000         
      other comprehensive income, net of tax
    		                        
      unrealized gain on investments
    		                 -4,500,000 -800,000 -200,000 100,000 -500,000 400,000 200,000 
      commission income
    		                       100,000 
    Balance Sheets:
    Quarterly
    Annual
      Unit: USD2026-03-31 2025-12-31 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31 2020-09-30 2020-06-30 
                              
        assets
      		                        
        investments
      		                        
        fixed maturities available-for-sale, at fair value
      		731,800,000 708,800,000 681,800,000 624,500,000 655,600,000 607,400,000 609,700,000 537,200,000 619,800,000 627,400,000 633,400,000 676,800,000 648,500,000 650,300,000 693,100,000 674,100,000 694,700,000 691,400,000 697,600,000 71,200,000 6,500,000 6,600,000 6,700,000 6,700,000 
        short-term investments
      		19,500,000 14,100,000 23,500,000 21,300,000 20,500,000 27,500,000 31,100,000 44,000,000 22,100,000 45,800,000 73,400,000 71,300,000 89,400,000 99,800,000 142,800,000 85,900,000 83,200,000 110,400,000 107,500,000    15,000,000 29,900,000 
        total investments
      		751,300,000 722,900,000 705,300,000 645,800,000 676,100,000 634,900,000 640,800,000 581,200,000 641,900,000 673,200,000 706,800,000 748,100,000 737,900,000 750,100,000 835,900,000 760,000,000 777,900,000 801,800,000 805,100,000 71,200,000 6,500,000 6,600,000 21,700,000 36,600,000 
        cash, cash equivalents and restricted cash
      		386,500,000 396,800,000 355,500,000 386,000,000 319,700,000 385,700,000 337,800,000 349,700,000 285,200,000 271,500,000 238,100,000 193,800,000 254,800,000 286,500,000 225,000,000  235,000,000 270,600,000 319,600,000 1,092,700,000 1,174,700,000 571,400,000 575,700,000 258,800,000 
        premium receivable, net of allowance for credit losses of 4.5 million and 4.1 million as of march 31, 2026 and december 31, 2025, respectively
      		449,100,000                        
        reinsurance recoverable
      		145,500,000 153,400,000 167,700,000 177,800,000 182,300,000 170,400,000 189,900,000 203,000,000 170,100,000 138,400,000 144,600,000 164,400,000 153,700,000 156,800,000 136,300,000 110,300,000 112,500,000 89,800,000 70,800,000 64,700,000 65,800,000 49,000,000 42,200,000 26,200,000 
        prepaid reinsurance premium
      		123,900,000 147,900,000 203,400,000 281,600,000 263,500,000 253,600,000 254,700,000 218,200,000 204,500,000 196,300,000 197,600,000 166,600,000 159,800,000 164,500,000 181,600,000 168,900,000 156,700,000 149,600,000 150,200,000 120,300,000 104,400,000 91,300,000 86,200,000  
        deferred acquisition costs
      		14,200,000 12,100,000 13,500,000 12,600,000 11,400,000 12,200,000 11,900,000 11,200,000 9,800,000 8,800,000 8,100,000 6,600,000 6,900,000 6,900,000 7,600,000 7,400,000 6,700,000 6,200,000 6,000,000 4,900,000 4,100,000 3,500,000 3,300,000 2,500,000 
        property and equipment
      		16,700,000 15,800,000 15,300,000 16,000,000 16,200,000 16,100,000 16,000,000 16,300,000 17,200,000 17,400,000 17,400,000 19,000,000 19,800,000 19,600,000 19,100,000 13,200,000 13,000,000 11,700,000 10,800,000 8,800,000 6,900,000 5,700,000 5,100,000 4,300,000 
        intangible assets
      		8,100,000 8,100,000 8,100,000 8,800,000 11,200,000 13,600,000 15,800,000 18,200,000 20,500,000 22,900,000 25,200,000 27,500,000 29,800,000 32,500,000 35,700,000 600,000 600,000 600,000 600,000 600,000 600,000 600,000 600,000 600,000 
        goodwill
      		19,000,000 19,000,000 19,000,000 19,000,000 19,000,000 19,000,000 19,000,000 19,000,000 19,000,000 19,000,000 19,000,000 19,000,000 19,000,000 19,000,000 10,900,000          
        other assets
      		43,600,000 47,400,000 35,700,000 40,300,000 39,400,000 42,400,000 39,400,000 37,400,000 41,100,000 63,800,000 67,600,000 70,300,000 74,500,000 75,200,000 73,100,000 53,300,000 57,400,000 53,200,000 29,400,000 16,000,000 16,000,000 14,500,000 13,900,000 6,000,000 
        total assets
      		1,957,900,000 1,925,700,000 1,918,800,000 1,934,600,000 1,856,600,000 1,849,100,000 1,823,000,000 1,713,900,000 1,646,400,000 1,633,300,000 1,647,600,000 1,613,100,000 1,641,200,000 1,690,700,000 1,712,900,000 1,460,900,000 1,495,400,000 1,510,500,000 1,521,700,000 1,487,300,000 1,477,500,000 828,700,000 831,500,000 399,900,000 
        liabilities and stockholders' equity
      		                        
        unpaid loss and loss adjustment expense
      		308,800,000  312,100,000 309,800,000 307,300,000  294,200,000 282,200,000 264,000,000  255,100,000 255,600,000 245,200,000  220,600,000 122,900,000 107,600,000  74,000,000 64,700,000 62,200,000    
        unearned premium
      		614,200,000 577,000,000 567,900,000 509,500,000 476,200,000 455,000,000 453,800,000 397,600,000 371,300,000 353,700,000 355,600,000 315,900,000 297,800,000 288,000,000 294,100,000 241,600,000 222,400,000 207,700,000 203,200,000 166,000,000 143,500,000 123,800,000 115,300,000 86,900,000 
        trade payables
      		2,400,000 500,000 5,100,000 2,300,000 3,400,000 4,500,000 1,000,000 600,000 600,000 600,000 2,700,000 700,000 1,900,000 1,100,000 1,500,000 1,300,000 2,600,000 1,000,000 3,000,000 1,300,000 1,000,000 1,400,000 1,000,000 600,000 
        funds held for reinsurance treaties
      		151,600,000 169,500,000 202,500,000 240,100,000 225,100,000 219,600,000 189,300,000 157,300,000 132,400,000 128,800,000 131,100,000 129,300,000 129,100,000 136,000,000 131,700,000 119,200,000 108,200,000 103,100,000 97,100,000 77,600,000 66,000,000 62,100,000 52,400,000  
        deferred ceding commission
      		33,300,000 38,200,000 50,000,000 68,400,000 61,000,000 65,600,000 58,900,000 46,300,000 46,300,000 41,400,000 39,100,000 41,600,000 39,500,000 39,700,000 43,000,000 42,100,000 38,800,000 36,500,000 36,100,000 30,100,000 26,000,000    
        ceded premium payable
      		21,100,000 23,900,000 19,000,000 29,700,000 26,200,000 23,800,000 41,900,000 29,600,000 26,600,000 23,200,000 36,300,000 19,200,000 20,900,000 18,400,000 24,900,000 21,000,000 34,800,000 18,700,000 24,800,000 18,000,000 15,300,000    
        borrowings under financing agreement
      		179,600,000 158,100,000 139,000,000 123,500,000 101,900,000 83,400,000 67,400,000 43,900,000 28,300,000 14,900,000 7,700,000              
        other liabilities and accrued expenses
      		128,900,000 121,800,000 107,000,000 124,200,000 110,000,000 105,700,000 123,500,000 121,200,000 100,500,000 99,500,000 93,100,000 79,800,000 85,000,000 84,500,000 90,300,000 63,700,000 68,300,000 57,400,000 35,500,000 28,000,000 19,800,000 54,100,000   
        total liabilities
      		1,439,900,000 1,392,100,000 1,402,600,000 1,407,500,000 1,311,100,000 1,255,700,000 1,230,000,000 1,078,700,000 970,000,000 924,400,000 920,700,000 842,100,000 819,400,000 823,900,000 806,100,000 611,800,000 582,700,000 522,300,000 473,700,000 385,700,000 333,800,000 287,700,000 262,500,000 141,300,000 
        commitments and contingencies
      		                        
        stockholders' equity
      		                        
        common stock, 0.00001 par value...
      		                        
        additional paid-in capital
      		2,017,400,000 1,991,500,000 1,953,600,000 1,928,000,000 1,910,100,000 1,898,300,000 1,861,900,000 1,844,900,000 1,829,500,000 1,814,500,000 1,800,200,000 1,784,700,000 1,769,600,000 1,754,100,000 1,738,100,000 1,582,500,000 1,568,200,000 1,553,500,000 1,539,500,000 1,525,900,000 1,512,300,000 859,800,000 855,000,000 33,900,000 
        accumulated deficit
      		-1,500,100,000 -1,464,300,000 -1,442,600,000 -1,405,100,000 -1,361,200,000 -1,298,800,000 -1,268,800,000 -1,201,100,000 -1,143,900,000 -1,096,600,000 -1,054,200,000 -992,700,000 -925,500,000 -859,700,000 -796,000,000 -704,600,000 -636,700,000 -561,900,000 -491,600,000 -425,200,000 -369,600,000 -320,600,000 -286,700,000 -255,800,000 
        accumulated other comprehensive income
      		700,000 6,400,000 5,200,000 4,200,000              -3,400,000 100,000 900,000 1,000,000 1,800,000 700,000 300,000 
        total stockholders' equity
      		518,000,000 533,600,000 516,200,000 527,100,000 545,500,000 593,400,000 593,000,000 635,200,000 676,400,000 708,900,000 726,900,000 771,000,000 821,800,000 866,800,000 906,800,000 849,100,000 912,700,000 988,200,000 1,048,000,000 1,101,600,000 1,143,700,000 541,000,000 569,000,000  
        total liabilities and stockholders' equity
      		1,957,900,000 1,925,700,000 1,918,800,000 1,934,600,000 1,856,600,000 1,849,100,000 1,823,000,000 1,713,900,000 1,646,400,000 1,633,300,000 1,647,600,000 1,613,100,000 1,641,200,000 1,690,700,000 1,712,900,000 1,460,900,000 1,495,400,000 1,510,500,000 1,521,700,000 1,487,300,000 1,477,500,000    
        premium receivable, net of allowance for credit losses of 4.1 million and 2.8 million as of december 31, 2025 and 2024, respectively
      		 402,300,000                       
        unpaid losses and loss adjustment expenses
      		 303,100,000    298,100,000    262,300,000    256,200,000    97,900,000    46,300,000   
        premium receivable, net of allowance for credit losses of 3.1 million and 2.8 million as of september 30, 2025 and december 31, 2024, respectively
      		  395,300,000                      
        premium receivable, net of allowance for credit losses of 2.8 million and 2.8 million as of june 30, 2025 and december 31, 2024, respectively
      		   346,700,000                     
        premium receivable, net of allowance for credit losses of 2.8 million and 2.8 million as of march 31, 2025 and december 31, 2024, respectively
      		    317,800,000                    
        accumulated other comprehensive loss
      		    -3,400,000 -6,100,000 -100,000 -8,600,000 -9,200,000 -9,000,000 -19,100,000 -21,000,000 -22,300,000 -27,600,000 -35,300,000 -28,800,000 -18,800,000        
        premium receivable, net of allowance for credit losses of 2.8 million and 2.5 million as of december 31, 2024 and 2023, respectively
      		     301,200,000                   
        premium receivable, net of allowance for credit losses of 2.8 million and 2.5 million as of september 30, 2024 and december 31, 2023, respectively
      		      297,700,000                  
        premium receivable, net of allowance for credit losses of 2.5 million and 2.5 million as of june 30, 2024 and december 31, 2023, respectively
      		       259,700,000                 
        premium receivable, net of allowance for credit losses of 2.5 million and 2.5 million as of march 31, 2024 and december 31, 2023, respectively
      		        237,100,000                
        premium receivable, net of allowance for credit losses of 2.5 million and 2.7 million as of december 31, 2023 and 2022, respectively
      		         222,000,000               
        premium receivable, net of allowance for credit losses of 2.5 million and 2.7 million as of september 30, 2023 and december 31, 2022, respectively
      		          223,200,000              
        premium receivable, net of allowance for credit losses of 2.4 million and 2.7 million as of june 30, 2023 and december 31, 2022, respectively
      		           197,800,000             
        contingencies
      		                        
        premium receivable, net of allowance for credit losses of 2.7 million and 2.7 million as of march 31, 2023 and december 31, 2022, respectively
      		            185,000,000            
        premium receivable, net of allowance for credit losses of 2.7 million and 1.6 million as of december 31, 2022 and 2021, respectively
      		             179,600,000           
        premium receivable, net of allowance for credit losses of 2.7 million and 1.6 million as of september 30, 2022 and december 31, 2021, respectively
      		              187,700,000          
        cash and cash equivalents
      		               199,600,000         
        premium receivable, net of allowance for credit losses of 2.2 million and 1.6 million as of june 30, 2022 and december 31, 2021, respectively
      		               147,600,000         
        premium receivable, net of allowance for credit losses of 1.9 million and 1.6 million as of march 31, 2022 and december 31, 2021
      		                135,600,000        
        premium receivable, net of allowance for credit losses of 1.6 million and 0.5 million as of december 31, 2021 and 2020
      		                 127,000,000       
        premium receivable, net of allowance for doubtful accounts of 1.0 million and 0.5 million as of september 30, 2021 and december 31, 2020
      		                  129,200,000      
        premium receivable, net of allowance for doubtful accounts of 0.7 million and 0.5 million as of june 30, 2021 and december 31, 2020
      		                   108,100,000     
        stockholders' equity:
      		                        
        premium receivable, net of allowance for doubtful accounts of 0.5 million and 0.5 million as of march 31, 2021 and december 31, 2020
      		                    98,500,000    
        premium receivable, net of allowance for doubtful accounts of 0.5 million and 0.2 million as of december 31, 2020 and 2019
      		                     86,100,000   
        liabilities, convertible preferred stock and stockholders' equity
      		                        
        convertible preferred stock (series seed, a, b, c, and d), 0.00001 par value...
      		                        
        total liabilities, convertible preferred stock and stockholders' equity
      		                     828,700,000 831,500,000  
        premium receivable, net of allowance for doubtful accounts of 0.4 million and 0.2 million as of september 30, 2020 and december 31, 2019
      		                      82,800,000  
        unpaid losses and loss adjustment expense
      		                      39,700,000 35,300,000 
        other liabilities and accrued expense
      		                      54,100,000 18,500,000 
        convertible preferred stock (series seed, a, b, c and d), 0.00001 par value...
      		                       480,200,000 
        premium receivable, net of allowance for doubtful accounts of 0.4 million and 0.2 million as of june 30, 2020 and december 31, 2019
      		                       64,900,000 
        liabilities, convertible preferred stock and stockholders' deficit
      		                        
        stockholders' deficit:
      		                        
        total stockholders' deficit
      		                       -221,600,000 
        total liabilities, convertible preferred stock and stockholders' deficit
      		                       399,900,000 
      Cashflow Statements:
      Quarterly
      Annual
        Unit: USD2026-03-31 2025-12-31 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31 2020-09-30 
                               
          cash flows from operating activities:
        		                       
          net loss
        		-35,800,000 -21,700,000   -62,400,000 -30,000,000   -47,300,000 -42,400,000 -61,500,000 -67,200,000 -65,800,000 -63,700,000 -91,400,000 -67,900,000 -74,800,000 -70,300,000 -66,400,000 -55,600,000 -49,000,000 -33,900,000 -30,900,000 
          adjustments to reconcile net loss to net cash from operating activities:
        		                       
          depreciation and amortization
        		2,700,000 2,600,000 3,400,000 4,700,000 4,500,000 4,700,000 5,100,000 5,200,000 5,000,000 4,800,000 5,000,000 5,100,000 5,100,000           
          stock-based compensation
        		21,200,000 18,500,000 17,100,000 15,400,000 10,300,000 17,300,000 16,900,000 15,400,000 14,900,000 14,300,000 15,400,000 14,800,000 15,400,000 15,700,000 15,600,000 13,900,000 14,100,000 13,400,000 12,700,000 11,900,000 6,100,000 3,300,000 2,700,000 
          amortization of premium on bonds
        		-1,300,000  -1,400,000 -1,500,000 -1,500,000  -1,700,000                 
          provision for bad debt
        		5,900,000 8,000,000   4,500,000 3,100,000   3,200,000 2,100,000 2,100,000 1,600,000 2,300,000 2,300,000 2,800,000 1,600,000 2,000,000       
          changes in operating assets and liabilities:
        		                       
          premium receivable
        		-52,700,000 -15,000,000 -53,800,000 -33,300,000 -21,100,000 -6,600,000 -40,600,000 -24,700,000 -18,300,000 -900,000 -27,500,000 -14,400,000 -7,700,000 6,000,000 -25,600,000 -13,600,000 -10,600,000 -300,000 -22,500,000 -11,100,000 -13,300,000 -4,100,000 -18,500,000 
          reinsurance recoverable
        		7,900,000 14,300,000 10,100,000 4,500,000 -11,900,000 19,500,000 13,100,000 -32,900,000 -31,700,000 6,200,000 19,800,000 -10,700,000 3,100,000 -20,400,000 -11,600,000 2,100,000 -22,700,000 -19,000,000 -6,100,000 1,100,000 -16,800,000 -6,800,000 -16,000,000 
          prepaid reinsurance premium
        		24,000,000 55,500,000 78,200,000 -18,100,000 -9,900,000 1,100,000 -36,500,000 -13,700,000 -8,200,000 1,300,000 -31,000,000 -6,800,000 4,700,000 17,200,000 -12,800,000 -12,200,000 -7,100,000 600,000 -29,900,000 -15,900,000 -13,100,000 -5,100,000 -86,200,000 
          deferred acquisition costs
        		-2,100,000 1,400,000 -900,000 -1,200,000 800,000 -300,000 -700,000 -1,400,000 -1,000,000 -700,000 -1,500,000   600,000 -200,000 -700,000 -500,000 -200,000 -1,100,000 -800,000 -600,000 -200,000 -800,000 
          other assets
        		3,600,000 -11,800,000 1,400,000 -600,000 2,800,000 -3,200,000 -2,000,000 3,700,000 22,700,000 3,900,000 -200,000 4,500,000 700,000 -1,900,000 -4,800,000 3,900,000 -4,200,000 -23,600,000 -13,500,000 100,000 -1,600,000 -600,000 -7,900,000 
          unpaid loss and loss adjustment expense
        		5,700,000  2,300,000 2,500,000 9,200,000  12,000,000 18,200,000 1,700,000  -500,000 10,400,000 -11,000,000  21,500,000 15,300,000 9,700,000  9,300,000 2,500,000 15,900,000  4,400,000 
          unearned premium
        		37,200,000 9,100,000 58,400,000 33,300,000 21,200,000 1,200,000 56,200,000 26,300,000 17,600,000 -1,900,000 39,700,000 18,100,000 9,800,000 -6,400,000 37,600,000 19,200,000 14,700,000 4,500,000 37,200,000 22,500,000 19,700,000 8,500,000 28,400,000 
          trade payables
        		1,900,000 -4,600,000 2,900,000 -1,200,000 -1,100,000 3,500,000    -2,100,000 2,000,000 -1,200,000 800,000 -400,000 -600,000 -1,300,000 1,600,000 -2,000,000 1,700,000 300,000 -400,000 400,000 200,000 
          funds held for reinsurance treaties
        		-17,900,000 -33,000,000 -37,600,000 15,000,000 5,500,000 30,300,000 32,000,000 24,900,000 3,600,000 -2,300,000 1,800,000 200,000 -6,900,000 4,300,000 12,500,000 11,000,000 5,100,000 6,000,000 19,500,000 11,600,000 3,900,000 9,700,000  
          deferred ceding commission
        		-4,900,000                       
          ceded premium payable
        		-2,800,000 4,900,000 -10,700,000 3,500,000 2,400,000 -18,100,000 12,300,000 3,000,000 3,400,000 -13,100,000 17,100,000 -1,700,000 2,500,000 -6,600,000 -8,100,000 -13,800,000 16,100,000 -6,100,000 6,800,000 2,700,000 2,300,000   
          other liabilities and accrued expenses
        		6,800,000 14,700,000 -11,900,000 14,600,000 4,100,000 -17,700,000 2,300,000 20,600,000 1,000,000 6,500,000 13,100,000 -5,200,000 600,000 -5,700,000 4,500,000 -4,700,000 10,800,000 21,900,000 7,300,000 8,200,000 1,200,000   
          net cash from operating activities
        		-600,000 20,700,000 4,500,000 5,500,000 -47,200,000 13,800,000 16,300,000 -11,700,000 -29,800,000 -16,100,000 -6,300,000 -50,300,000 -46,400,000 -28,600,000 -54,700,000 -40,200,000 -39,500,000 -49,900,000 -38,200,000 -16,200,000 -40,300,000 -20,700,000 -35,700,000 
          capital expenditures
        		-3,500,000 -3,100,000 -1,900,000 -2,100,000 -2,300,000 -3,200,000 -2,200,000 -1,500,000 -2,500,000 -2,400,000 -2,200,000 -1,900,000 -2,700,000 -2,600,000 -2,900,000 -1,800,000 -2,800,000 -2,000,000 -2,700,000 -2,700,000 -2,000,000 -1,300,000 0 
          free cash flows
        		-4,100,000 17,600,000 2,600,000 3,400,000 -49,500,000 10,600,000 14,100,000 -13,200,000 -32,300,000 -18,500,000 -8,500,000 -52,200,000 -49,100,000 -31,200,000 -57,600,000 -42,000,000 -42,300,000 -51,900,000 -40,900,000 -18,900,000 -42,300,000 -22,000,000 -35,700,000 
          cash flows from investing activities:
        		                       
          proceeds from short-term investments sold or matured
        		5,500,000 13,600,000 13,000,000 5,600,000 9,400,000 12,900,000 20,600,000 14,700,000 29,300,000 28,300,000 52,000,000 26,600,000 36,600,000 74,500,000 68,500,000 36,800,000 44,700,000     15,000,000 15,000,000 
          proceeds from bonds sold or matured
        		124,600,000 83,500,000 135,500,000 133,900,000 30,200,000 66,400,000 50,300,000 160,900,000 58,700,000 49,600,000 84,000,000 109,100,000 106,900,000 48,000,000 36,300,000 44,500,000 9,200,000 19,300,000    100,000 0 
          cost of short-term investments acquired
        		-10,500,000 -4,000,000 -15,000,000 -6,700,000 -2,000,000 -9,100,000 -7,300,000 -36,300,000 -5,400,000 0 -19,300,000 -29,000,000 -23,200,000 -18,400,000 -61,000,000 -39,400,000 -17,900,000 -23,300,000    0 0 
          cost of bonds acquired
        		-150,700,000 -108,900,000 -191,000,000 -101,200,000 -75,600,000 -64,500,000 -115,500,000 -76,500,000 -49,200,000 -34,900,000 -70,800,000 -115,700,000 -102,300,000 -14,000,000 -59,100,000 -31,200,000 -29,100,000 -11,900,000 -635,500,000   0 0 
          purchases of property and equipment
        		-3,500,000 -3,100,000 -1,900,000 -2,100,000 -2,300,000 -3,200,000 -2,200,000 -1,500,000 -2,500,000 -2,400,000 -2,200,000 -1,900,000 -2,700,000 -2,600,000 -2,900,000 -1,800,000 -2,800,000 -2,000,000 -2,700,000 -2,700,000 -2,000,000 -1,300,000  
          net cash from investing activities
        		-34,600,000 -18,900,000 -59,400,000 29,500,000 -40,300,000 2,500,000 -54,100,000 61,300,000 30,900,000 40,600,000 43,700,000 -10,900,000 15,300,000 87,500,000 80,600,000 8,900,000 4,100,000 2,300,000 -737,800,000 -67,300,000 -2,000,000 13,800,000 13,800,000 
          cash flows from financing activities:
        		                       
          proceeds from borrowings under financing agreement
        		40,400,000 36,700,000 30,200,000 36,100,000 30,000,000 25,600,000 30,800,000 22,200,000 17,500,000 9,800,000              
          payments on borrowings under financing agreement
        		-18,900,000  -14,700,000 -14,500,000 -11,500,000  -7,300,000 -6,600,000 -4,100,000               
          proceeds from stock exercises
        		4,700,000 19,400,000 8,500,000 2,500,000 1,500,000 19,100,000 100,000 0 100,000 0 200,000 200,000 100,000 300,000 2,300,000 400,000 600,000 600,000 900,000 1,700,000 6,100,000 1,500,000 200,000 
          net cash from financing activities
        		26,200,000 38,500,000 24,000,000 24,100,000 20,000,000 35,000,000 23,600,000 15,600,000 13,500,000 7,200,000 7,900,000 200,000 100,000 300,000 2,300,000 400,000 600,000 600,000 900,000 1,700,000 646,400,000 1,500,000 338,200,000 
          effect of exchange rate changes on cash, cash equivalents and restricted cash
        		-1,300,000 1,000,000 400,000 7,200,000 1,500,000 -3,400,000 2,300,000 -700,000 -900,000  -1,000,000 0 -700,000 2,300,000 -2,800,000   -2,000,000 2,000,000 -200,000 -800,000 1,100,000 600,000 
          net decrease in cash, cash equivalents and restricted cash
        		-10,300,000          44,300,000 -61,000,000 -31,700,000           
          cash, cash equivalents and restricted cash at beginning of period
        		396,800,000  0 0 385,700,000  0 0 271,500,000  0 0 286,500,000  0 0 270,600,000  0 0 571,400,000  0 
          cash, cash equivalents and restricted cash at end of period
        		386,500,000  -30,500,000 66,300,000 319,700,000  -11,900,000 64,500,000 285,200,000  44,300,000 -61,000,000 254,800,000  25,400,000 -35,400,000 235,000,000  -773,100,000 -82,000,000 1,174,700,000  316,900,000 
          supplemental disclosure of cash flow information:
        		                       
          cash paid for income taxes
        		200,000 300,000 1,400,000 500,000 300,000 500,000 800,000 900,000 300,000 100,000 300,000 100,000 200,000 0 700,000 1,600,000 1,100,000 1,100,000 1,000,000 500,000 600,000 500,000 300,000 
          cash paid for interest expense on borrowings under financing agreement
        		5,800,000 5,100,000 4,500,000 3,600,000 3,100,000 2,600,000 1,100,000 800,000 500,000 200,000              
          amortization of bond discount
        		                       
          gain on early lease termination
        		 0                      
          asset impairment charge
        		     0 0   0              
          unpaid losses and loss adjustment expenses
        		                       
          payment on borrowings under financing agreement
        		                       
          net increase in cash, cash equivalents and restricted cash
        		 41,300,000 -30,500,000 66,300,000 -66,000,000 47,900,000 -11,900,000 64,500,000 13,700,000       -35,400,000 -35,600,000 -49,000,000 -773,100,000 -82,000,000 603,300,000 -4,300,000 316,900,000 
          cash, cash equivalents and restricted cash at beginning of year
        		                       
          cash, cash equivalents and restricted cash at end of year
        		                       
          non-cash transactions:
        		                       
          right-of-use assets derecognized due to lease modification
        		                       
          deferred ceding commissions
        		  -18,400,000 7,400,000 -4,600,000  12,600,000 0 4,900,000  -2,500,000 2,100,000 -200,000  900,000 3,300,000 2,300,000  6,000,000 4,100,000 3,600,000   
          non-cash transaction:
        		                       
          right-of-use assets derecognized due to modified lease liability
        		                       
          net income
        		                       
          adjustments to reconcile net income to net cash from operating activities:
        		                       
          benefit from bad debt
        		                       
          amortization of premium (discount) on bonds
        		                       
          acquisition of business, net of cash acquired
        		             0          
          warrants assumed from acquisition of metromile
        		             -500,000          
          amortization of (premium) discount on bonds
        		        -1,300,000               
          proceeds from initial public offering and follow-on offering, net of underwriting discounts and commissions and offering costs
        		                       
          amortization of discount on bonds
        		            200,000  1,300,000 2,100,000 2,500,000 -2,700,000    0 -100,000 
          common shares contribution to lemonade foundation
        		                       
          unrealized loss on money market funds
        		                       
          proceeds from release of shares upon repayment
        		                     0 0 
          depreciation
        		              3,700,000 1,600,000 1,500,000 1,200,000 800,000 800,000 900,000 600,000 400,000 
          proceeds from follow-on offering, net of underwriting discounts and commissions and offering costs
        		                   0 640,300,000   
          effect of exchange rate changes on cash and cash equivalents
        		                -800,000       
          purchases of intangible assets
        		                       
          issuance of preferred stock
        		                       
          provision for bad debts
        		                  1,500,000 1,400,000 900,000   
          common shares contribution to the lemonade foundation
        		                       
          proceeds from initial public offering and follow-on offering, net of underwritingdiscounts and commissions and offering costs
        		                       
          change in fair value of warrant liability
        		                       
          proceeds from initial public offering, net of underwriting discount and offering costs
        		                       
          bad debt expense
        		                      500,000 
          noncash interest
        		                       
          common share contribution to the lemonade foundation
        		                      0 
          other liabilities and accrued expense
        		                      35,700,000 
          proceeds from initial public offering, net of underwriting discounts and commissions and offering costs
        		                       
          purchases of property plant and equipment